PENSION AND POSTRETIREMENT PLANS Pension and Postretirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

Defined Benefit Plan, Plan Amendment [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

	U. S. Plans						Non-U.S. Plans
	Year ended December 31,
	2023		2022		2021		2023	2022	2021
Service cost for benefits earned	$	3.9	$	2.8	$	3.9	1.4	2.4	2.2
Interest cost on benefit obligation	12.3		9.1		8.3		15.2	9.1	7.2
Expected return on plan assets	(11.6)		(12.9)		(17.3)		(16.7)	(15.8)	(14.3)
Net amortization and deferral	4.5		4.6		10.0		0.1	0.8	1.9
Settlements	10.9		4.1		3.7		—	(1.1)	—
Defined-benefit plan costs	$	20.0	$	7.7	$	8.6	—	(4.6)	(3.0)

Service costs are the only component of net periodic benefit costs recorded within Operating income. For the year ended December 31, 2023, the Company recognized a partial plan settlement charge of $10.9 as a component of Other, net.

The amounts recognized in accumulated other comprehensive earnings are as follows:

	U. S. Plans				Non-U.S. Plans
	Year ended December 31,
	2023		2022		2023		2022
Net actuarial loss in accumulated other comprehensive earnings	$	47.2	$	60.9	$	19.1	$	22.6

	U.S. Plans				Non-U.S. Plans
	Year Ended December 31,
	2023		2022		2023		2022
Balance at beginning of the year	$	259.5	$	333.3	$	319.9	$	569.8
Service cost	3.9		2.8		1.4		2.4
Interest cost	12.3		9.1		15.2		9.1
Actuarial (gain) loss	11.7		(58.4)		7.0		(187.7)
Benefits and administrative expenses paid	(55.5)		(27.3)		(14.2)		(19.5)
Foreign currency exchange rate changes	—		—		16.4		(54.2)
Balance at end of the year	$	231.9	$	259.5	$	345.7	$	319.9

The estimated benefit payments, which were used in the calculation of projected benefit obligations, are expected to be paid as follows:

	U. S. Plans		Non-U. S. Plans
2024	$	21.8	$	16.4
2025	22.4		16.2
2026	21.6		17.6
2027	20.8		18.0
2028	21.1		18.3
Years 2029 to 2033	92.2		97.8

The effect on operations of the post-retirement medical plan is shown in the following table:

	Year ended December 31,
	2023		2022		2021
Interest cost on benefit obligation	$	0.2	$	0.1	$	0.1
Net amortization and deferral	—		0.2		0.3
Post-retirement medical plan costs	$	0.2	$	0.3	$	0.4

A summary of the changes in the accumulated post-retirement benefit obligation follows:

	2023		2022
Balance at January 1	$	3.9	$	5.2
Interest cost on benefit obligation	0.2		0.1
Actuarial loss	(0.2)		(0.9)
Benefits paid	(0.3)		(0.5)
Balance at December 31	$	3.6	$	3.9
Recorded as:
Accrued expenses and other	$	0.6	$	0.6
Other liabilities	3.0		3.3
	$	3.6	$	3.9

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

	U.S. Plans				Non-U.S. Plans
	Year Ended December 31,
	2023		2022		2023		2022
Balances at beginning of the year	$	226.8	$	299.9	$	301.2	$	485.2
Company contributions	—		—		14.1		13.8
Actual return on plan assets	21.6		(48.2)		18.0		(134.7)
Benefits and administrative expenses paid	(53.1)		(24.9)		(13.7)		(14.9)
Foreign currency exchange rate changes	—		—		16.3		(48.2)
Fair value of plan assets at end of year	$	195.3	$	226.8	$	335.9	$	301.2

Schedule of Net Funded Status [Table Text Block]

	U.S. Plans				Non-U.S. Plans
	Year Ended December 31,
	2023		2022		2023		2022
Funded status	$	36.6	$	32.7	$	9.8	$	22.8
Recorded as:
Other assets	$	—	$	2.2	$	21.5	$	7.0
Accrued expenses and other	2.5		2.4		0.7		0.6
Other liabilities	34.1		32.5		30.6		29.2

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted average assumptions used to determine net periodic benefit costs are as follows:

	U. S. Plans						Non-U.S. Plans
	Year ended December 31,
	2023		2022		2021		2023		2022		2021
Discount rate	5.5	%	2.8	%	2.4	%	4.0	%	2.1	%	1.1	%
Salary increases	N/A		N/A		N/A		2.0	%	2.0	%	2.0	%
Expected long term rate of return	6.0	%	4.5	%	6.0	%	5.3	%	3.6	%	3.1	%
Cash balance interest credit rate	4.0	%	4.0	%	4.0	%	N/A		N/A		N/A

Weighted average assumptions used to determine net periodic benefit obligations are as follows:

	U. S. Plans				Non-U.S. Plans
	Year ended December 31,
	2023		2022		2023		2022
Discount rate	5.1	%	5.5	%	4.3	%	4.8	%
Salary increases	N/A		N/A		2.0	%	2.0	%

The weighted average asset allocation of the plan assets as of December 31, 2023, by asset category is as follows:

	December 31, 2023
	U.S. Plans		Non-U.S. Plans
Equity securities	19.8	%	26.6	%
Debt securities	76.4	%	40.8	%
Annuities	—	%	15.7	%
Real estate	2.1	%	3.3	%
Other	1.7	%	13.7	%

The weighted average target asset allocation of the plan assets is as follows:

	U.S. Plans					Non U.S. Plans
Equity securities	13.0%		to	25.5	%	25.0%	to	35.0%
Debt securities	67.0%		to	87.0	%	35.0%	to	45.0%
Annuities	—	%	to	—	%	10.0%	to	20.0%
Real estate	0.5	%	to	4.3	%	—%	to	10.0%
Other	—	%	to	5.0	%	10.0%	to	25.0%

Defined Benefit Plan Fair Value Of Plan Assets By Category [Table Text Block]

The fair values of the assets at December 31, 2023, and 2022, by asset category are as follows:

Asset Category	Level of Valuation Input	Fair Value		Investments valued using NAV per share		Total
U.S Plans
Cash and cash equivalents	Level 1	$	3.3	$	—	$	3.3
U.S. equity index funds		—		27.3		27.3
International equity index funds		—		11.4		11.4
Real estate		—		4.0		4.0
General bond index funds		—		149.3		149.3
Total fair value		$	3.3	$	192.0	$	195.3
Non U.S. Plans
Cash and cash equivalents	Level 1	$	46.2	$	—	$	46.2
Annuities	Level 3	52.8		—		52.8
Pooled investment funds		—		236.9		236.9
Total fair value		$	99.0	$	236.9	$	335.9

Asset Category	Level of Valuation Input	Fair Value		Investments valued using NAV per share		Total
U.S Plans
Cash and cash equivalents	Level 1	$	3.9	$	—	$	3.9
U.S. equity index funds		—		39.6		39.6
International equity index funds		—		17.0		17.0
Real estate index fund		—		5.0		5.0
General bond index funds		—		161.3		161.3
Total fair value		$	3.9	$	222.9	$	226.8
Non U.S. Plans
Cash and cash equivalents	Level 1	$	3.0	$	—	$	3.0
Annuities	Level 3	50.1		—		50.1
Pooled investment funds		—		248.1		248.1
Total fair value		$	53.1	$	248.1	$	301.2

The fair market value of index funds and pooled investment funds are valued using the net asset value (NAV) unit price provided by the fund administrator. The NAV is based on the value of the underlying assets owned by the fund. The fair value of annuity investments are based on discounted cash flow techniques using unobservable valuation inputs such as discount rates and actuarial mortality tables.

Fair Value Measurement of Level 3 Pension Assets	Annuities
Balance at January 1, 2022	$	81.3
Actual return on plan assets	(31.2)
Balance at December 31, 2022	50.1
Actual return on plan assets	2.7
Balance at December 31, 2023	$	52.8

Assumed Benefit Payments By Year [Table Text Block]

The following assumed benefit payments under the Company's post-retirement benefit plan, which reflect expected future service, as appropriate, and which were used in the calculation of projected benefit obligations, are expected to be paid as follows:

2024	$	0.6
2025	0.5
2026	0.4
2027	0.3
2028	0.3
Years 2029 and thereafter	1.0